Needham & Company LLC Reiterates “Buy” Rating for Blueprint Medicines (NASDAQ:BPMC)

Blueprint Medicines (NASDAQ:BPMC)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a research note issued to investors on Friday, Benzinga reports. They presently have a $97.00 target price on the biotechnology company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 4.30% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Stifel Nicolaus increased their target price on Blueprint Medicines from $95.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. Barclays increased their target price on Blueprint Medicines from $58.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 13th. HC Wainwright reissued a “buy” rating and issued a $125.00 target price on shares of Blueprint Medicines in a report on Friday. JMP Securities reissued a “market outperform” rating and issued a $114.00 target price on shares of Blueprint Medicines in a report on Wednesday, April 10th. Finally, Citigroup increased their price target on Blueprint Medicines from $54.00 to $65.00 and gave the stock a “sell” rating in a research report on Friday, February 16th. Four investment analysts have rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $91.57.

Blueprint Medicines Trading Up 2.5 %

Blueprint Medicines stock opened at $93.00 on Friday. The business has a 50 day moving average price of $90.79 and a two-hundred day moving average price of $79.00. The company has a quick ratio of 3.66, a current ratio of 3.76 and a debt-to-equity ratio of 1.60. The stock has a market cap of $5.69 billion, a price-to-earnings ratio of -11.12 and a beta of 0.63. Blueprint Medicines has a 12 month low of $43.89 and a 12 month high of $101.00.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Thursday, February 15th. The biotechnology company reported ($1.82) EPS for the quarter, beating the consensus estimate of ($2.04) by $0.22. The firm had revenue of $71.96 million during the quarter, compared to analysts’ expectations of $67.34 million. Blueprint Medicines had a negative return on equity of 191.56% and a negative net margin of 203.30%. The company’s revenue for the quarter was up 85.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($2.65) EPS. As a group, equities analysts forecast that Blueprint Medicines will post -5.41 EPS for the current year.

Insider Buying and Selling

In other Blueprint Medicines news, insider Christopher K. Murray sold 621 shares of Blueprint Medicines stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $93.65, for a total value of $58,156.65. Following the sale, the insider now owns 36,374 shares of the company’s stock, valued at approximately $3,406,425.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Blueprint Medicines news, insider Christopher K. Murray sold 621 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $93.65, for a total transaction of $58,156.65. Following the transaction, the insider now owns 36,374 shares of the company’s stock, valued at $3,406,425.10. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jeffrey W. Albers sold 25,073 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $87.28, for a total value of $2,188,371.44. Following the transaction, the director now directly owns 176,050 shares in the company, valued at approximately $15,365,644. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,289 shares of company stock valued at $8,314,163. 3.88% of the stock is owned by company insiders.

Institutional Investors Weigh In On Blueprint Medicines

Several institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its stake in Blueprint Medicines by 63.4% during the third quarter. PNC Financial Services Group Inc. now owns 848 shares of the biotechnology company’s stock worth $43,000 after purchasing an additional 329 shares during the last quarter. Cutler Group LLC CA increased its holdings in Blueprint Medicines by 1,685.7% in the third quarter. Cutler Group LLC CA now owns 1,000 shares of the biotechnology company’s stock valued at $50,000 after purchasing an additional 944 shares during the period. Compass Wealth Management LLC acquired a new stake in Blueprint Medicines in the fourth quarter valued at $69,000. China Universal Asset Management Co. Ltd. increased its holdings in Blueprint Medicines by 95.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,550 shares of the biotechnology company’s stock valued at $78,000 after purchasing an additional 757 shares during the period. Finally, Van ECK Associates Corp increased its holdings in Blueprint Medicines by 28.4% in the fourth quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock valued at $80,000 after purchasing an additional 193 shares during the period.

Blueprint Medicines Company Profile

Blueprint Medicines Corporation, a precision therapy company, develops medicines for genomically defined cancers and blood disorders in the United States and internationally. The company is developing AYVAKIT for the treatment of systemic mastocytosis (SM) and gastrointestinal stromal tumors; BLU-263, an orally available, potent, and KIT inhibitor for the treatment of indolent SM, and other mast cell disorders.